Warren Buffett Rebuffs Gold – Does nothing for any Economy

Warren Buffett hit the nail on the head. Gold is a useless investment. It just does nothing for anyone and does not produce anything. If everyone would invest in gold rather than in the economy, we all would still throw stones at each other. If it ever comes down to it that gold becomes a currency, we will all wish it would go away. Until then, it is a speculation tool and helps those with an “me first” attitude to sleep better.

Buffett rebuffs gold, but inflation says ‘buy’ – ETF Adviser – MarketWatch.

 

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4 Responses

  1. What’s the CAGR of gold since Nixon abolished the gold standard up to now?
    Actual goldprice per ounce: $1,786.00
    Goldprice per ounce in 1971: $35.00
    CAGR in 41 years: 10.066209 percent

    But Warren Buffett’s Berkshire Hathaway Inc. (BRK.A) generated a CAGR of 23 percent and strongly outperformed gold!

    In other words, gold compared to Warren Buffett’s Berkshire Hathaway Inc. performed rather poorly!

    • V. says:

      Good numbers. Thank you. If you also consider what Warren Buffett’s investments, or any other investment of the same purpose, did for the economy and what it put into the pockets of everyone, you will get a much more exciting number. Gold is clearly a “downer” for economies and common good.

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